Cement is an input. You can’t eat or drink it. On its own it’s useless. So as a government, if you decide to have a cement policy, the biggest mistake you can make is to set your success benchmark simply as increasing the amount of cement produced. But this is what Nigeria did
If you’re going to have a policy supporting the production of an input, the only sensible way to measure the success of that policy is to measure the things that that input goes into.
So you say - we want to have a cement policy to support the construction of x number of houses over x number of years. Or to build x amount of infrastructure. That is how you measure the success of a cement policy
But what did Nigeria do? The only measure of success has been we were producing x amount of cement in 19xx and now we are producing xx amount of cement in 20xx. Clap for yourselves, everyone go home. We even have a cement billionaire!
Now *after* the comprehensive failure of the cement policy, the government is now congratulating itself for negotiating a discount with cement producers to - you won’t believe this - build houses.
Imagine visiting a country and you see 90% of the people trekking as their means of transport. But a tiny minority of people are going about in cars. You then ask who is the richest man in that country and they tell you it’s the guy selling car tyres
You don’t have anywhere near enough of the things for which cement is an input - housing, infrastructure - but the guy selling that input is a billionaire anyway.
Systems, systems, systems.
What is most painful about this Low Quality Billionaire is that he is no more than a technology middleman in all of this. ALL the technology used to manufacture cement in Nigeria is simply imported from China. This is all he’s done to become a multi billionaire
No local innovation or anything of the sort. No research or development. Nothing added to the body of cement knowledge that has been in existence for more than 2,000 years. Just manipulate the govt to shamelessly fleece his own countrymen. Disgusting